Free savings and loan protection

We offer members peace of mind with free life savings and loan protection insurance.


Up to £10,000 of borrowings will be repaid in full by the insurance, provided the loan is under 5 years in duration.

Loans taken out after the members 80th birthday are not covered.


Maximum savings coverage: £7,500. Up to double this is payable to the named beneficiary on death.

If the age of the member at the time of the deposit was between:

16 and 64 then 100% of the deposit is eligible for coverage.
65 and 79 then 25% of the deposit is eligible for coverage

Deposits from members over the age of 80 are not covered.


A member pays in £5,000 and stops on their 60th birthday. £10,000 is payable on death.

A member pays in £5,000 until they are 65. After their 65th birthday they pay in another £4,000. The £5k is covered 100% and the £4k 25% (or £1,000) so the pay out would be £6,000

Terms and conditions

Cover limits vary and certain restrictions apply based on age and cover.

Please ask us for more details about the individual limits and restrictions of Loan Protection.

Loan Protection is underwritten by Sterling Life Limited. Sterling Life Limited is authorised by the Prudential Regulation Authority and regulated by Financial Conduct Authority and Prudential Regulation Authority.

Insurance is offered in association with   CUNA Mutual Group Limited CUNA Mutual Group Limited is authorised and regulated by the Financial Conduct Authority.